Health management firm @Panacea Limited is planning to raise INR 2,500 Mn by way of issue of securities, the company said in a filing with the exchange and will seek shareholders approval for the same.
The use of funds is not known.
Panacea is into research based pharmaceutical and health management involved in research, manufacturing and marketing of pharma formulations, vaccines and natural products.
It is still recovering from a ban imposed by the WHO and is solely dependent on vaccine sales, may have to find another partner to push its business.
In 2011, WHO had removed the company's diphtheria-pertussis-tetanus based combination of two vaccines and another hepatitis B vaccine from its pre-qualified list citing non-compliance of manufacturing sites.
The company had bought 76% stake in
In August last year,
Panacea has a market cap of INR 10,228 Mn and had recorded a turnover of INR 5,030 Mn for the last fiscal.
Recent activity in the space:
was planning to acquire around 25-30% stake in
Taparias, the owner of
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